Chennai: The industry, which had been growing impatient ever since the outbreak of Covid-19 and the implementation of lockdown, has welcomed Prime Minister Narendra Modi’s Rs 20 lakh crore economic package.
CII DG Chandrajit Banerjee said the industry truly appreciated the PM’s emphasis on strengthening MSMEs as well as his emphasis on competitiveness of Indian industry.
“Global supply chains, agriculture and agri-supply chains, and local supply chains, all found mention. Workers in organised and unorganised sectors can both be expected to receive benefits in the coming days,” he said.
“Reforms in these four areas will truly unleash the next wave of economic growth within this crisis situation,” he added.
TVS Motors chairman Venu Srinivasan, said, “This was more than what was expected and it is a visionary package. What we now need to do is make it easier for businesses. We need to be in the top five countries in ease of doing business. States need to have competition to attract investments and create jobs.”
K E Raghunathan, former national president of All India Manufacturers Organisation (AIMO), said, “As usual, he boosted India and its capability and surely made us feel proud and united. He has announced Rs 20 lakh crore package and that was huge. Thank you PM. No one expected that much and no one even asked that much as a relief but what we need to know is how they will find it and how they will spend and how long it will take. I can not comment in the absence of details but very happy and thankful that he mentioned Rs 20 lakh crore package”.